Give Yourself a Gift This Year
Did you know that 2 out of 3 people aren’t saving enough for retirement? What’s “enough”? Fidelity recommends saving at least 15% of your income annually, which includes employer contribution. If you’re not there yet, consider increasing your savings rate today. (To make any changes to your contribution amount, log on to Fidelity NetBenefits® at www.netbenefits.com/atwork or call the Fidelity Retirement Service Center at 1-800-343-0860 to speak with a Fidelity representative.)
Your 401(k) Plan Limits are Going Up in 2019
Another year ends and that means we are another year closer to retirement. As we approach the end of the year, there are some important updates regarding the CHI 401(k) Retirement Savings Plan (the “CHI 401(k) Plan”) we want you to know about. The CHI 401(k) Plan is one of the most valuable tools you have to help you prepare for your financial future so please take time to review these updates for the 2019 plan year.
If you wish to maximize your savings opportunity, please use the above chart to determine if you should adjust your pre-tax and/or Roth after-tax salary deferral percentage, or try the online Contribution Maximizer tool at www.contributionmaximizer.com
Catch-Up Contributions for 2019
If you are, or will be age 50 or older during calendar year 2019, and you contribute the IRS contribution limit of $19,000, you are eligible to make catch-up contributions to the CHI 401(k) Plan.
This is a great opportunity for employees who:
- Want to make contributions in addition to the otherwise applicable Internal Revenue Code limits
- May have started saving for retirement later in their careers
- Have spent some time out of the workforce
- Want to make additional contributions to this retirement plan.
To make any changes to your contribution amount, log on to Fidelity NetBenefits® at www.netbenefits.com/atwork or call the Fidelity Retirement Service Center at 1-800-343-0860 to speak with a Fidelity representative.